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COVENANTS 200300329
<br />1. Payments. Borrower agrw to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Burrower or for Borrower's benefit will be eppliW first m city amounts Borrower owes on the secured debt exclusive of interest nr principal, second to interest, and then to
<br />principal If partial prepayment of the secured debt occurs for any reason, it will not abduct or excuse any scheduled payment until the secured debt is paid in full
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the propery against
<br />any claims which would impair the lien of this deed of oust, lender may rryuire Borrower, to assign any rights, claims or defnaa which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property
<br />3. Insurance. Burrower will keep the property insured under terms acceptable to Lender at Bonn wer's expense and for Lender's bencfft. All Insurance politics shall
<br />induAe a standard mnngage clause in favor of Lends. Under will be named as loss payee or as the insured nu any such insurance policy. Any insurance proceeds maybe
<br />applird, within Lmder's discretion, to either the ream intor or repair of the damaged property or to the, secured debt. B Lender re3uire,r mbA,,, as.. , Bomswer
<br />agrees to maintain such insurance for as long as Leader regdrrs.
<br />4. Property. Borrower will keep the property in good condition and make all repairs rationality neceasary.
<br />S. Expenses. Borrower agrees to pay all fender's urgencies, including reasonable anomeys' fees, if Boorowor breaks any covenants in this d d of trust or in any
<br />obligation securedbythis dead oftmst. Bomewu will pay them amounts to Lender as provided in Covenant 9 of this dead of trust.
<br />6. Prior Security Interests. UNeas Burrower f ut obtains Lender's writer contest, Burrower will not make or pemat any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations unds any prior mortgage, decd of lmit or other security agreement, including Borrower's common, to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property, Unless Borrower and lender have agreed otherwise in writing,
<br />Bomower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed pereivcr may take
<br />possession and manage the property and collect the Is My is Lender csllmts shall be applied first to the coats of managing the property, including count me. and
<br />otmmeys' fees, eommiasiona to rental agents, and any other accessary related expenses. The accu ling amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />8. Leaselmlds; Condensation., Planned Unit Developments. Borrower agrees to comply with the provisions of my lease if this deed of local is on leasehold. If this
<br />dad of trust is on a unit in u condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower, If Bsrrowet fails to pertomn, any of Borrower's dries under Nib deed of tmsq [ender may perfonn the duties or
<br />causethenitoboperforrad . (ender may sign Borrower's name or pay any amount if ncccssary for perfemn e. If any comb ccim un lbe pmpWy is diwmtinuW or not
<br />cemxi on in a reusumble manner, lsmder may do whatever is accessary to protect Lender's scounty interest in the property. This may include completing the construction.
<br />Uccler's fuilane to perfomn will just preclude Lender firm exercising any of its other rights under the law or than deed of trust.
<br />Any amounts paid by fender to protect Lender's security interest will be secured by this deed of trust. Such amoanls will be due no demand and will bar inunt di from the
<br />date of the payment until paid in full at the interest rate in affil on the secured debt.
<br />10. Defenit and Acceleration. If Bnmm, fail., m broke any payment when due or breaks any covenants under this deed oftmst or any obligation secured by this dad of
<br />bout or any prior mortgage or deed of trust lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale suit
<br />any other remedies perminW by applicable law.
<br />11. Request for Notice of Default Il is hereby requested him copies of the notices of deficit and sale he aem m each person who is n pony heretq at the eddmss oP each
<br />mcb person, as set forth herein.
<br />12. Power of Sale. If the Lender invokes Nc power of sale, the Trustee shall first record in the once of the register of des of each county wherein the trust property or
<br />me part m panel thereof is wimated a notice of default roaming the information required by law. TTe Tms[a shall alas mail topics of the notice of default to the
<br />Borrower, to each person who is a party heem, and to other persons as presrolocd by applicable law. Not has than one month after the Trustee records the notice of default,
<br />or two months if the trust property is not in any incorporated city or village ad is card in f naming operations carried on by the tanchm the Trustee shall give public noor, of
<br />sale to the persons and in the manner prescrhed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Famn Homestead Protection Act, Trustee stall off n the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />panel oft be import by public announcement at the amt and place of any previously scheduled sale. Lsdecor its desigjueemay purchase the property at any sole.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to hie pumbaser Trustee's deed cs rney., the property. The reciti.1, contained in Trustee's deal shall be
<br />prima facie evidimce of the math of the statements contahoW therein. Trusts shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, rasmable Toaster's foes, reasonable anomey's fees and reinstatement fees; (b) to alt sums secured by this deed oftmst, and (c) the balance, if
<br />any, on the persons legally entitled to reccivc u.
<br />13. Foreclosure. At Under's option, this deed oftmst may be foreclosed in the manner provided by applicable law for foreclosure ofmorigages on real properly.
<br />14. Inspection. Lmdu may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice moat state the reasonable come for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to larder the proceeds of any award or claim far damage, connected with a condemnation or other taking of all or any part of the
<br />pmpeny. Such pmceada will M1e applied az provided N Covenant 1. 'this azsigmnent is subject m the terns of city pnor scarily agreement.
<br />16. Walver. By cxeretsing any remedy available to leader, Lender does not give up may rights to later use any arbor mmgedy. By not exeaisiag any remedy upon
<br />Borrower's default, lender does rim waive any right to later consider the event a default if it happens again.
<br />17. Joint cad Several LlabBity; Co.ignerr; Successors and Assigns Bound. All duties under dos deW oftmst arejoint and several. Any Borrower who co -signs this
<br />deed of trust but does not co -sign the underlying debt instmmmm(s) does so only to grant and convey that Borrowers interest in the property to the Trustee under the temps
<br />of Nis dead eftmst. th ndN[ioq such a Bomower agrees Nnt We Lender and any other Borrower under this dead of tmtt may attend, modify nr make any other change, in
<br />the terms ofthis dead oftmst or the secured debt without that Borrower's consent and without Missing Nat Borrower bring the toms of this deed of Imsl.
<br />The duties and benefits of this dcW of trust shall bind and benefit the successors and resigns of Lender and Borrower.
<br />18. Notice. Unless mMovise required by law, any notice to Borrower .shall be given by delivering it or by mailing it by certified maid addressed to Borrower at the
<br />property address or any othm address that Borrower has given to Lauder. Borrower will give ivy active to Lender by certified mail to Lender's address on page I of this
<br />deal oftmst, or to any either address, which Lender has designated. Any other notice to lender shall be sent to Lender's address as stated on page I ofthis decd of trust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above
<br />19. Transfer of the Property or a Beneficial Interval in the Borrower. If all or any pan of the property or any interest in it is sold or transferred without the leader's
<br />pnor wnnm consent, Lsdcr may demand immediate payment of the secured debt. 4mds may also demand immediate payment if the Borrower is not n natural person Heil
<br />a beneficial interest in the Borrower is snlA nr transferred. Howe r, Lender may can demand payment in the above situations if it is probibitW by federal law as of the date
<br />of this deed oftmst.
<br />20. Reconveynnee. Whey the obligation moored by this dead of tams has been paid, and Lender how an fuller obligation to make advances under the insemmana or
<br />agreements secured by this decd of trust, the Toaster shall, upon written resubmit by the Utah, recbmey the trust property- The Under shall deliver to the Borrower, or to
<br />Borrower's movessm m latest, the., deed and the note m other evidence of the obligation so sadsfic 1. Borrows shall pay any raotdation costs.
<br />21. Sm won Ti- a ins. Lender, at Ixvder's option, may remove Trusty and appoint a successor tmstce by first mailing u eopY of the substilulian of lruwlec ca neyuirrd
<br />by applicable law, and then, by filing the substitution ofttustee for record in the once of the register of deads of each county in which the count property, or some Not
<br />thereof;issituated. The mocessor truster, without conveyance ofthe pmpWy, shall succeed to all the power, duties, authority and title oftbe Trustee named in the deed of
<br />oast and of any successor trustee.
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